The host of the popular crypto outlet Coin Bureau is detailing his 2022 crypto strategy and says he bought during the market-wide dip this month.
In a new video to his 1.78 million YouTube subscribers, pseudonymous trader Guy says that he went in on Ethereum (ETH) competitors Polygon (MATIC) and Fantom (FTM), king crypto Bitcoin (BTC), altcoin Cosmos Network (ATOM), and ETH itself during the latest crypto market pullback.
“The crypto market basically collapsed [in December], so I did what any rational person would do in such a situation: I bought the dip. I leaned into BTC, ETH, MATIC, FTM, and ATOM.”
Guy says that his round of purchases pushed Cosmos Network up to be 4.5% of his overall portfolio.
“If you’re wondering why that’s simply because ATOM is the interoperability hub for cryptocurrency and some of the largest cryptocurrency blockchains were built using the Cosmos SDK (Software Development Kit).”
ATOM is exchanging hands at $28.21 as of writing, a 25.5% decrease from its seven-day low of $20.95.
Guy then further reveals his portfolio, saying that its comprised 31% of ETH, 21.5% of BTC, 13% of smart contract platform Solana (SOL), 9% of interoperable blockchain Polkadot (DOT), 3% of decentralized network for the Internet of Things devices Helium (HNT), and 3% of gold-backed cryptocurrency PAX Gold (PAXG).
The host then says his trading strategy for 2022 is to start accumulating cryptocurrencies that provide infrastructure for non-fungible tokens (NFTs) other than smart contract platforms such as Ethereum for two key reasons.
“My plan in 2022 is to start picking up crypto projects that provide the infrastructure for NFTs and their related niches beyond smart contract cryptocurrency blockchains like ETH and this is for two reasons.
“First, I truly believe that NFTs will play a critical role in the future of cryptocurrency, especially when it comes to things like decentralized digital IDs…
The second reason as to why I’m planning on picking up NFT coins and tokens has to do with regulations. As I mentioned [before], the FATF (Financial Action Task Force) finalized crypto recommendations [and] it does not recognize NTFs as digital assets which means that all the draconian and dystopian stuff that FATF wants countries to enforce doesn’t apply to NFTs.”
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The post Coin Bureau Buys Two Ethereum Challengers, Unveils 2022 Crypto Strategy and Updated Portfolio appeared first on The Daily Hodl.